Wednesday, November 5, 2014

Steve's barking; The US economy, trouble ahead

I looked into my crystal ball, and saw danger for the American economy.
Even though it's almost impossible to predict what the economy is going to do in two years down the road because there are too many variables, I'm going to make some dire predictions anyway.
The Saudis are going to try to up their production in oil, destroying America's oil industry. States that  produce oil will start running deficits. Companies that feed on the oil industry will hit hard times.
There will be pressure on the fed to raise interest rates and they will succumb to the pressure, the stock market will take a major hit because of this, and borrowing money for margins will become harder. Companies such as Amazon may have to change the way they do business or die.
The new congress will make it harder for the average American to pay their bills as the cut in foods stamps  have done to the poor. Congress will cut highway money making many a car losing its' axel which the owner can not repair.
Kansas will be the first state in the union that has ever gone bankrupt causing other state hardship (?).
Even though there is more money then ever it's not in circulation causing a greater recession then before Obama took office, just as happened to FDR. This time it will be because of congress but the president will get the blame.

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